Perennial Advisors LLC Invests $8.09 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Perennial Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,540 shares of the medical research company's stock, valued at approximately $8,085,000. Thermo Fisher Scientific comprises 1.8% of Perennial Advisors LLC's portfolio, making the stock its 17th largest position.

A number of other institutional investors have also made changes to their positions in the stock. Barrett & Company Inc. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Pillar Financial Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Noble Wealth Management PBC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $35,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 89.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

TMO stock traded down $1.67 on Wednesday, hitting $401.88. The company's stock had a trading volume of 1,930,021 shares, compared to its average volume of 1,874,739. The firm has a 50 day moving average of $437.74 and a two-hundred day moving average of $502.70. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The stock has a market cap of $151.71 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the prior year, the firm earned $5.11 EPS. Thermo Fisher Scientific's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the transaction, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $59,506,950.58. The trade was a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,075 shares of company stock valued at $7,305,942. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Scotiabank decreased their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a research note on Friday, April 25th. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Raymond James reiterated an "outperform" rating and issued a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $607.43.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.